Do we have to wait til their current leases expire & then not renew? 

Your best bet is to not renew their lease, then match the quality of your rental to those renting for $1700, and find a new tenant.

My property manager recently renewed his lease, is there anyway I can let him go before lease term?

My Air Bnb days are a bit on hold in SF as the city refused to renew my license twice claiming, “ it doesn’t appear that I live there.”  

But if you leave things alone, you pay the mortgage, the insurance policy auto renews, no one will know the difference, the bank continues to be billed, and in turn pays the insurance and taxes from the escrow.I paid off several mortgages in recent years and had to go to the insurance companies and various tax authorities to change the billing address back to me, else they would continue billing the bank.

You'll want to assign probabilities to lease renewal and  assume a market vacancy, even if the units are currently 100% occupied.Best of luck!

I think you mean “if the irs doesn’t renew a lien filed at  the 10 year mark. ....

I would also do both. 3 or 5 day quit or pay, AND let them know you won't be renewing.

Yes, it’s called a non-renewal notice; if you search for that term you should be able to find one specific to your state.

@Cory Mosby The problems with this is what if you get it running successfully and then the owner see that this will work and decides not to renew your lease and take it over, or jack up your rent?